Private Angolan company invests US$1 million in agricultural project

23 August 2011

Caxito, Angola, 23 Aug – Angolan company, Alembengo is developing an agricultural project, estimated to cost US$1 million, in the Kicabo commune, Dande municipality, Bengo province.

José Santana, a partner in Alembengo said that part of this amount, funded by Banco de Desenvolvimento de Angola (BDA) had been used to clear arable land.

The agricultural project, which has been underway for three years, covers an area of 1,000 hectares, of which 105 have been cleared and 12 are being cultivated, notably for growing cassava, bananas, onions and peppers.

Santana said that Alembengo planned to expand, which was why it was negotiating a US$600,000 loan with the BDA to be used for other agricultural projects. ( macauhub)